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STI to cross 3000 boosted by long-term investors
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ticklish8
Senior |
06-Jul-2009 18:07
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Singapore market report SINGAPORE, July 6, 2009 (AFP) - Singapore shares closed 1.46 percent lower Monday on a lack of fresh leads and after a dismal US jobs report led to renewed concerns over the strength of the global economic rebound. The blue-chip Straits Times Index fell 33.66 points to 2,266.09. Volume totalled 1.26 billion shares worth 977 million Singapore dollars (674 million US). A closely watched US Labor Department report last week showed US job losses had surged worse than expected to 467,000 in June, pushing the unemployment rate to a new 26-year high of 9.5 percent. The report, seen as one of the best indicators of economic momentum, reversed the improvement seen the previous month when job losses fell to 322,000. Signs of an early recovery for the recession-hit US economy are being closely monitored by investors worldwide because the United States is a key export market. Among blue-chips, Singapore Airlines fell 12 cents to 12.68 Singapore dollars, oil rig maker Keppel Corp was down 17 cents to 6.79 and Singapore Telecom settled at 2.92, down nine cents. Banks tumbled, led by DBS which eased 24 cents to 11.34. United Overseas Bank was off 10 cents at 14.16 and Oversea Chinese-Banking Corp finished 13 cents lower at 6.60. In the property counter, CapitaLand gave up seven cents to 3.54, Keppel Land was down eight cents to 2.11 and City Developments ended eight cents lower at 8.38. mba/dan |
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boyikao3
Master |
06-Jul-2009 17:27
Yells: "Money or reputation ?" |
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I am still buying. This correction will be a shallow one especially when the earnings reports are out later... 
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ticklish8
Senior |
06-Jul-2009 17:04
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World market report HONG KONG (AP) – Asian and European stock markets sank Monday, undermined by investor anxiety that company earnings will reflect a weaker global economy than originally hoped. Volumes were thin across Asia without a cue from U.S. markets, which were closed Friday for Independence Day. Resource producers like Japan’s Inpex and Australia’s BHP Billiton fell as crude oil prices plunged toward $64 a barrel. Markets have slackened in recent weeks as concerns grew the huge run-up between March and June was premature given the troubles in the global economy. Last week’s gloomy jobless numbers in the U.S. and Europe only added to worries that a strong recovery from recession may still be out of reach. Uncertainty about company profits in the second quarter and forecasts for the rest of the year, to be released in the coming weeks, also have many investors on edge. U.S. aluminum giant Alcoa Inc. opens earnings season on Wednesday. “There’s a lack of direction and the momentum is very weak,” said Peter Lai, investment manager at DBS Vickers in Hong Kong. “Markets are already waiting for catalysts to take profits, and because people are nervous about earnings I’m expecting a correction.” Japan’s Nikkei 225 stock average fell 135.20, or 1.4 percent, to 9,680.87 and Hong Kong’s Hang Seng dropped 226.23, or 1.2 percent, to 17,977.17 in a choppy session. In India, the Sensex was down 5.2 percent. Investors there were disappointed after the government didn’t announce any major liberalization measure in its new budget. Elsewhere, Australia’s index lost 1.2 percent and Singapore’s market closed off 1.2 percent. Defying the region’s losses, South Korea’s Kospi added 0.6 percent after Samsung Electronics Co., the world’s biggest manufacturer of memory chips, announced quarterly profit estimates for the first time. The company estimated operating profit would come it at between 2.2 trillion won and 2.6 trillion won, compared with 2.4 trillion won last year. In mainland China, the benchmark Shanghai Composite Index closed up 1.2 percent at 3,124.67, a 13-month high. Thailand’s stock market is closed Monday and Tuesday. Europe followed Asia lower, with benchmarks in Britain, Germany and France falling between 1 percent and 2 percent. Wall Street futures pointed to a weaker open Monday. Dow futures were down 76, or 0.9 percent, at 8,165 and S&P futures fell 8.9, or 1 percent, to 884.40. Oil prices tumbled in Asia, with benchmark crude for August delivery down $2.71 to $64.02 a barrel. It last settled on Thursday at $66.73. The dollar slipped to 95.20 yen from 96.03 yen. The euro was lower at $1.3920 from $1.3955. |
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aleoleo
Master |
06-Jul-2009 16:27
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deep correction is coming ... trade carefully ..... where are the good news ??? no more le .... be cautious ..... | ||||||||
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Peg_li
Master |
06-Jul-2009 14:28
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Trade volume extremly low, correction time more than one month. don't know how long it take to correct. will it go march low level?look like no hope for STI to go back to 2400! |
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el7888
Veteran |
06-Jul-2009 10:28
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STI TA shows that it is a correction time. I am not doing my buying today.
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maxcty
Master |
06-Jul-2009 10:15
Yells: "always a learning day for me in trading" |
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x 0
x 0 Alert Admin |
another buying or loading day today? |
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ticklish8
Senior |
06-Jul-2009 09:53
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Something to share 2010: Shaping Up to Be an "L" of a YearThursday's payroll report led to some of the worst market angst we have seen since the big rally started, with the market plunging into its third consecutive weekly decline. While the numbers didn't strike me as anything really that different from "more of the same", neither did the previous few that seemed to encourage some market participants. I was pretty lucky to be a bear who was aware - aware that the market was quite overdone in March (and February too!)...... read more below http://seekingalpha.com/article/146868-2010-shaping-up-to-be-an-l-of-a-year |
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iPunter
Supreme |
04-Jul-2009 18:31
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The question is whether there can be such a dramatic recovery when people (businesses, consumers) are still suffering the bad after-effects of the big meltdown that it is... Recovery there certainly will be... but is it happening now? Or have the effects still to seep in further? Remember in Aug 2008, the market surged very fiercely after that big big fall, and then later resumed the big fall, which was the recent big meltdown... is the meltdown over yet? 
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el7888
Veteran |
04-Jul-2009 18:14
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Asia likely to be first out of downturn, say ADB MANILA: Asia’s recession appears to have bottomed and the region is likely to be the first to climb out of the global economic slowdown, the Asian Development Bank’s (ADB) chief economist said yesterday. However, ADB’s Mr Lee JongWha said it would be difficult for the world’s most populous region to return to the high-growth scenarios of 2007 and earlier, unless the industrialized world also recovers from a deep recession. Speaking at a news conference in Manila, Mr Lee said that compared to other regions, Asia – outside of Japan – had mostly managed positive growth throughout the crisis, albeit at lower levels. He added that the ADB was now seeing stronger numbers in terms of “quarter-on-quarter industrial production”, and concluded that “Asia will see recovery faster than the industrialized countries”. Expansionary monetary policies implemented by governments in the region had loosened credit and lowered interest rates, helping Asians spend more to keep local economies from ticking over, Mr Lee said. Meanwhile large countries such as China and India “maintained relatively strong and resilient growth, which provided demand for regional exports” from Asian neighbours. But Mr Lee stressed that “the recovery is still not that strong” and that Asian governments must not pursue policies that may damage any green shoots, ensuring they review current stimulus policies once rehabilitation gets a hold. – AGENCE FRANCE-PRESSE, 3 July 2009 |
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dealer0168
Elite |
04-Jul-2009 10:57
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Ooo by the way, i mean must have backup plan if the worst occurred. But i do have confident the STI will recover but a very slow one. Hope i am not wrong. As i do not want to see recession to continue, as in actual its a bad things. It results in lots of unemployment......n i believe alot of people suffer from this recession. I wish the economy recover well
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dealer0168
Elite |
04-Jul-2009 10:48
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Ya...u right must prepare fr the worst. |
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smartrader
Elite |
04-Jul-2009 06:00
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Must remember that during the bull run, very few economists and politicians foresaw the downturn. So, when many economists and our politicians sing the same tune that it is too early to say it is recovery, it is a play safe statement. For me, i believe in Obama and this HSBC analyst for his guts to predict recovery. This mother of recovery is the last chance for serious investors who wants to make it big.. if not , they have to wait another 10yrs...based on the economics cycle |
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cheongwee
Elite |
04-Jul-2009 02:32
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yes,,,agree...hope for the best, and be prepare for the worse...how are we going to prepare for the worse is the real matter.. the next leg down, if there is any big market selldown , tua lau sai....just close your eye and buy all property counter...3 to 4 days later at cheap cheap px...then the next leg up...let it run still it is some close to 100% then sell, twist to mid cap and penny...then sell as you profit... always the same phenomenon..
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dealer0168
Elite |
03-Jul-2009 22:39
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Come on.... let see some happy news. Be happy, be positive. Hope for the best. Analysts see recovery starting in H2
Some expect next bull market to begin this half as US housing bottoms out
By JOYCE HOOI
Financial soothsayers were unanimous in their opinion yesterday that an economic recovery is imminent, despite a correction expected in the second half of the year. Some even go as far as to say that the start of the next bull market might happen in this half of the year. 'I think the recession is over. What we are waiting for is a bottom in US housing prices. That will be the start of the next bull market, and that will happen in the second half of this year,' said Arjuna Mahendran, managing director and head of investment strategy at HSBC Private Bank. According to him, with US housing prices ceasing to decline further, savings rates will peak and consumer demand will return to fuel the moribund economy. Other experts are also keeping an eye on the US housing market. 'US housing values need to stop declining for the recovery to be convincing,' Phillip Capital Management told OCBC Bank's Wealth Management unit as part of a poll of 16 fund managers conducted by OCBC. While other market insiders agreed that the worst is over, they were not as upbeat about the outlook for the rest of the year. Allianz Global Investors, one of the 16 polled, said 'economic activities will remain sluggish, leading to corporate profits and margins being lacklustre and labour markets remaining difficult'. 'With such constrained expansion, corporate earnings growth is likely to remain weak, at least for the remainder of 2009,' OCBC's poll analysis stated. Even as the ride to recovery remains bumpy, investors can do more than just hang on when the second leg of the expected double-dip happens. 'Buy on dips. This will be the last opportunity for many years to buy them cheap,' said HSBC's Mr Mahendran. He reckons that the equity markets will drop 15-20 per cent in a short-term correction within the next three months. On the local front, he recommended that investors look at bank stocks, which he felt were reasonably priced. The cue for a market rally lies in the export figures, given the export-driven nature of the local economy. 'Exports will lead the recovery, which will cause incomes to increase and then assets will revive in value,' said Mr Mahendran. Fixed-income instruments also found favour as bargain-hunting picks with other experts. 'Credit markets have performed well in recent weeks but they still appear cheap, and in our view offer higher compensation for the risk than equities,' Prudential Asset Management (Singapore) Ltd said in the OCBC poll which was released yesterday. HANG on tight, brace for a bumpy ride - but, most importantly, hang on. |
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cheongwee
Elite |
03-Jul-2009 22:02
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the factor that cause the crises got to be the factor to be OK first....that is housing.. and housing is still sinking, ..if housing is not ok, financial will not be ok, and more job losses result..more forclosures... this rally, is definitely not real,...there are bank failure now and then...and it is getting worse... and umemployment is 9.5%...but an analyst said that not include part timer and those who have given up finding jobs....i believe him.. for everyone register umemploy, there are 1 or 2 non register one...so the figure shd be double... like those coy who close shop, what abt the subcontractor who support them, they also follow cut workers...and those worker are mostly not register with the Mom.. |
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dealer0168
Elite |
03-Jul-2009 21:43
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Agreed. They are in actual more of speculator n biggest gainer from Stock market. (my opinion) |
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cheongwee
Elite |
03-Jul-2009 21:36
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all analyst are following chart, so they are chart blind!!! so if all believe then it is virtually self fulfilling...everyone will see 2100 at low and start to buy at 2100 and sell now till 2100..so all on target, analyst happy...his analysis is correct.. |
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des_khor
Supreme |
03-Jul-2009 21:19
Yells: "Tell me who is the God or MFT from this forum??" |
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MFTs can't be trusted !
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dealer0168
Elite |
03-Jul-2009 19:13
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x 0
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Agreed with Hulumas on Capland.
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. N everyboby happy. No one like recession.